Am I reading this chart right that someone just sold over 9000 bitcoins?

Not sure if it was 9000, but it was a shitload

The only reason you dump that many coins at once is to drive the price down so you can re-buy at a lower price point. Someone with that many coins, isn't "panic selling".

It will probably spike back up and the process continues. =)

The other reason is that dumping the coins slowly would allow the price to go down, possibly costing more than it's worth. The big bidwalls are making panic selling easier.

Agreed. There's been a bunch of 3-4K coin dumps today. I find it hard to believe it's a whole bunch of big investors panic selling. If you wanted to force the price lower, 3-4K sells pushing the price down quickly, suckering in panic sellers, is pretty much the way to do it.

Am I reading this chart right that someone just sold over 9000 bitcoins?

Not sure if it was 9000, but it was a shitload

The only reason you dump that many coins at once is to drive the price down so you can re-buy at a lower price point. Someone with that many coins, isn't "panic selling".

It will probably spike back up and the process continues. =)

The other reason is that dumping the coins slowly would allow the price to go down, possibly costing more than it's worth. The big bidwalls are making panic selling easier.

Agreed. There's been a bunch of 3-4K coin dumps today. I find it hard to believe it's a whole bunch of big investors panic selling. If you wanted to force the price lower, 3-4K sells pushing the price down quickly, suckering in panic sellers, is pretty much the way to do it.

There's also quite a few people who aren't big investors, but also have that many coins. Someone on reddit hit over $1 million a couple weeks ago, with a fairly small initial investment. They planned on cashing out slowly.

Seeing a crash like this could easily lead someone to selling it all off at once.

Am I reading this chart right that someone just sold over 9000 bitcoins?

Not sure if it was 9000, but it was a shitload

The only reason you dump that many coins at once is to drive the price down so you can re-buy at a lower price point. Someone with that many coins, isn't "panic selling".

It will probably spike back up and the process continues. =)

The other reason is that dumping the coins slowly would allow the price to go down, possibly costing more than it's worth. The big bidwalls are making panic selling easier.

Agreed. There's been a bunch of 3-4K coin dumps today. I find it hard to believe it's a whole bunch of big investors panic selling. If you wanted to force the price lower, 3-4K sells pushing the price down quickly, suckering in panic sellers, is pretty much the way to do it.

$5 by the end of the weekend, as I said before . These people have a lot of coins, and are unloading not to buy cheap, but to get out of the game while still there is some value on the BTC.

GOX SUX COX!The true faces of the Bitcoinica / Intersango SCAM! - Bitcoin was born in the shad0ws, for the shad0ws.

Am I reading this chart right that someone just sold over 9000 bitcoins?

Not sure if it was 9000, but it was a shitload

The only reason you dump that many coins at once is to drive the price down so you can re-buy at a lower price point. Someone with that many coins, isn't "panic selling".

It will probably spike back up and the process continues. =)

The other reason is that dumping the coins slowly would allow the price to go down, possibly costing more than it's worth. The big bidwalls are making panic selling easier.

Agreed. There's been a bunch of 3-4K coin dumps today. I find it hard to believe it's a whole bunch of big investors panic selling. If you wanted to force the price lower, 3-4K sells pushing the price down quickly, suckering in panic sellers, is pretty much the way to do it.

$5 by the end of the weekend, as I said before . These people have a lot of coins, and are unloading not to buy cheap, but to get out of the game while still there is some value on the BTC.

Yup, get out, BTC is worth $0 now, I am dumping everything! It'll just keep going down to nothing. Those large 50k+ BTC bidwalls in the teens will get pulled, as will the millions of dollars above them in the orderbook. Bitcoin doesn't work anymore.

There's also quite a few people who aren't big investors, but also have that many coins. Someone on reddit hit over $1 million a couple weeks ago, with a fairly small initial investment. They planned on cashing out slowly.

Seeing a crash like this could easily lead someone to selling it all off at once.

Yeah but it's happening all day long. They're really going to cash out with a 4k sell market order? I find it hard to believe that large dumps like that are just people freaking out.

Am I reading this chart right that someone just sold over 9000 bitcoins?

Not sure if it was 9000, but it was a shitload

The only reason you dump that many coins at once is to drive the price down so you can re-buy at a lower price point. Someone with that many coins, isn't "panic selling".

It will probably spike back up and the process continues. =)

The other reason is that dumping the coins slowly would allow the price to go down, possibly costing more than it's worth. The big bidwalls are making panic selling easier.

Agreed. There's been a bunch of 3-4K coin dumps today. I find it hard to believe it's a whole bunch of big investors panic selling. If you wanted to force the price lower, 3-4K sells pushing the price down quickly, suckering in panic sellers, is pretty much the way to do it.

$5 by the end of the weekend, as I said before . These people have a lot of coins, and are unloading not to buy cheap, but to get out of the game while still there is some value on the BTC.

Yup, get out, BTC is worth $0 now, I am dumping everything! It'll just keep going down to nothing. Those large 50k+ BTC bidwalls in the teens will get pulled, as will the millions of dollars above them in the orderbook. Bitcoin doesn't work anymore.

Given that bitcoin's value depends on trustworthy and functional contacts with the traditional banking system, yeah, it kinda doesn't work.

$5 by the end of the weekend, as I said before . These people have a lot of coins, and are unloading not to buy cheap, but to get out of the game while still there is some value on the BTC.

If you want to get out of the game, why would you do large dumps to induce panic selling thus costing yourself more money? Large coin dumps like this have been going on for years. It's the best way to create volatility.

Yup, get out, BTC is worth $0 now, I am dumping everything! It'll just keep going down to nothing. Those large 50k+ BTC bidwalls in the teens will get pulled, as will the millions of dollars above them in the orderbook. Bitcoin doesn't work anymore.